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oz transfer shall be effective anless an instrument has <br />bees sagned by two-thirds (2J3rds} of the 7irectors <br />having a rig3-t to vote, agzeeing to such dedication, <br />sale or transfer; <br />{f} participate in mergers and consolidations <br />with othez non-profit corporations organized for the <br />saase purposes or annex additional residential propertg <br />and Coasnon Area, provided that any such merger, consoli- <br />lotion or annexation shall have the affirmative Grote in <br />wziting of those villa owners holding ?58 or more of <br />G':e T..otal ,basic valae of each Condominium t~roperty <br />Re~c}anae, us.iny the percentas7es as set forth in the <br />Master Reeds. creating each erl the Condominium Property <br />Regiiiies which a~:e to k+c~ <lovfrrned by this Association, <br />ana <br />tg} have and to exercise any and all powers, <br />rights ana privileges which a corgoration organized <br />under the =•3on-Profit Corporation i.aw of the State of <br />tieUraska by law may nvw or hereafi:er k:t~ve or exercise. <br />A??:,ICu.F.' V <br />i?gk+,(r%ZSfU. ~ _- ~ -- ~ . SP,S {?F :'Elie =";,di'o!?AT3Cid <br />_...,,,,,,.,.,_,_.....,, ~~ rC:r~i~ 1'~3r; -ErF'EK~Al: 13t'l~'~,,._._„_.____._._.,_.._.._~__~.~.__.._ <br />A. Memrshi~. 'This cor~ratiori shall hj::~. n.~ ,.R~nbers. <br />H. Cvners Voting Rights. `t'he owner or c3wners c>f each <br />villa in rairway Villas Condominium Property tteyime z and <br />Fairway Villas Condominium Property Regime II tar sGOn as <br />that second Condominiurs~ Property Rc~yime is Eormec by t`r~e <br />filmy of the Master Deed creating i.t} shall be er,titlea to <br />desi+lnate ens Director `or each ~rilla. The ciesignatea <br />Direetvr must t;e either ±he owner <;r tk'ie spo~lse oY tt~e .-,caner <br />ctf the villa toeing represented. The Director designated by <br />aach villa snail take office immediately and shall hold his <br />c~ffiee until. his successor is designated by the then owner <br />oz owners of the villa iue represents on the anard of Directors. <br />C. txirect«r~ V~zEiaa ~iah#~- ,-s, ..c,.,, , <br />....._.....`d...--.~~ ....~..,.~: 3 ___ _ .~v.... ... .. a. cc: a.v1 ,cz .ca ..avc <br />ore vcste. T vote cf 3 ma;yori.ty ~:; the t3irectcrs rears- ' <br /> <br />